News Digest: Morgan Stanley-managed mutual fund cuts Flipkart valuation to $5.5 billion

		THE TIMES OF INDIA
		Friday, December 02, 2016
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		Morgan Stanley-managed mutual fund cuts Flipkart valuation to $5.5 billion A mutual fund managed by Morgan Stanley has sharply cut the value of its shares in India's largest e-tailer for the fourth time over a period of a year, valuing the company at $5.5 billion. Flipkart loses another top executive Flipkart's SVP (engineering) Peeyush Ranjan, who was the chief technology officer at the company till a few months back, has resig ned, adding to the list of top-level exits that have hit the e-tailer since last year. Here's how ban on Rs 500 and Rs 1000 notes may hurt PM Modi's 'Make in India' plans Industry insiders said they expect 2-3 months impact on current manufacturing activities. Analysts expect demand to normalise by mid-February to March. More Technology News»

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